American States Water Company Announces Regular Common Dividends

Rhea-AI Summary

On April 30, 2021, the Board of Directors of American States Water Company (NYSE: AWR) announced a quarterly dividend of $0.335 per share, marking the 340th consecutive dividend payment. For 66 years, the company has increased its annual dividend, achieving a 9.4% CAGR from 2010 to 2020. The dividend will be payable on June 2, 2021, to shareholders of record by May 17, 2021. The company aims for a long-term annual growth rate in dividends exceeding 7%.

Positive

• 340th consecutive dividend payment reflects strong financial stability.
• 66 years of annual dividend increases positions the company favorably among peers.
• Long-term goal of >7% compound annual growth rate in dividends indicates company confidence.

Negative

• None.

On April 30, 2021, the Board of Directors of American States Water Company (NYSE: AWR) approved a quarterly dividend of $0.335 per share on the Common Shares of the company. This action marks the 340^th consecutive dividend payment by the company. For 66 consecutive years, American States Water Company shareholders have received an increase in their calendar year dividend, which places it in an exclusive group of companies on the New York Stock Exchange that have achieved that result. The company’s current policy is to achieve a compound annual growth rate in the dividend of more than 7% over the long-term. The company has achieved a 9.4% compound annual growth rate in its annual dividend payment from 2010–2020.

Dividends on the Common Shares will be payable on June 2, 2021 to shareholders of record at the close of business on May 17, 2021.

About American States Water Company

American States Water Company is the parent of Golden State Water Company, Bear Valley Electric Service, Inc. and American States Utility Services, Inc., serving over one million people in nine states. Through its water utility subsidiary, Golden State Water Company, the company provides water service to approximately 262,000 customer connections located within more than 80 communities in Northern, Coastal and Southern California. Through its electric utility subsidiary, Bear Valley Electric Service, Inc., the company distributes electricity to approximately 24,500 customer connections in the City of Big Bear Lake and surrounding areas in San Bernardino County, California. Through its contracted services subsidiary, American States Utility Services, Inc., the company provides operations, maintenance and construction management services for water distribution and wastewater collection and treatment facilities located on eleven military bases throughout the country under 50-year privatization contracts with the U.S. government.

American States Water Company has paid dividends to shareholders every year since 1931, increasing the dividends received by shareholders each calendar year since 1954.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210503005153/en/

FAQ

What is the dividend amount declared by AWR in April 2021?

American States Water Company declared a dividend of $0.335 per share.

When will the dividend be paid to shareholders of AWR?

The dividend will be payable on June 2, 2021.

What is the record date for AWR's dividend payment?

The record date for the dividend payment is May 17, 2021.

How long has AWR been increasing its dividends?

American States Water Company has increased its dividends for 66 consecutive years.

What is AWR's target dividend growth rate?

The company aims for a compound annual growth rate in dividends of more than 7% over the long term.